The forecast for the import of pneumatic tyre moulding and retreading machinery to India shows a consistent decline from 2024 to 2028. The values in million kilograms decrease year-over-year from 1.1886 in 2024 to 1.0235 in 2028. Compared to the previous years, which hold actual reported data up to 2023, the declining trend suggests a cautious reduction in import volume, reflecting a dip in anticipated demand or a shift towards domestic production capabilities. The Compound Annual Growth Rate (CAGR) over these five years underscores a measured, ongoing reduction.
Future trends to watch include:
- Investments in domestic manufacturing capabilities for tyre machinery could influence import volumes further.
- Advancements in technology within the domestic market could reduce reliance on imports.
- Changes in government policies regarding import duties on machinery that could either facilitate or inhibit growth.
- Global economic conditions impacting trade and supply chains.
- Shifts in tyre industry demands based on evolving transportation needs and electric vehicle growth.
